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Time to Cash Out at Toronto's TMX

By

Hester Plumridge

June 25, 2011

It is great to be popular, but suitors for Canada's TMX Group are lacking in charm. TMX, owner of the Toronto Stock Exchange, along with merger partner London Stock Exchange, tried to improve their deal's appeal by offering a special C$4 (US$4.09) cash dividend after completion. That doesn't actually affect the value of the bid for TMX shareholders, at around C$44 a share. A rival, hostile bid from Canadian consortium Maple Group has been tweaked higher to C$50 a share. But as investors ponder which to back ahead of a vote on the...